Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.

We need to find a good app/website for them to send rent as well, preferably one that has many things built into it, making it more simple to manage things in one place.

I’d like to keep the current fixed-rate mortgage in place and, if possible, have the debt transferred to the LLC as well.

We host an investor meet up monthly in Alexandria, could be a good place to start.

By creating a process, you can prevent these issues from taking place and save yourself a lot of time, trouble, and money.

Can anyone confirm the 120 day max limit is still in place?

Thankfully we are commercial bank clients so our rates are as low as you can get in the market place for anyone who is not Lennar or DR horton or those types.

My first guests -- associates of his -- need a place for 2 weeks. 

Obviously the answer is yes when it comes down to the cash flow, but I am particularly wondering if HCOL/high property tax areas are places you would cross off the list entirely.

The key is making sure you have the right team in place—outside of market research, finding a trustworthy property management company is one of the most important factors in making long-distance investing successful.